Zacks Investment Management Has $7.17 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Zacks Investment Management trimmed its stake in shares of McKesson Co. (NYSE:MCK) by 62.9% during the third quarter, Holdings Channel reports. The firm owned 14,510 shares of the company’s stock after selling 24,616 shares during the period. Zacks Investment Management’s holdings in McKesson were worth $7,174,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MCK. International Assets Investment Management LLC boosted its stake in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after buying an additional 734,849 shares in the last quarter. FMR LLC boosted its stake in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after purchasing an additional 321,119 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on MCK shares. JPMorgan Chase & Co. upped their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Evercore ISI increased their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Wells Fargo & Company lowered their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $635.86.

McKesson Trading Down 0.7 %

McKesson stock opened at $603.53 on Friday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The company’s 50-day moving average is $554.83 and its two-hundred day moving average is $561.88. The company has a market cap of $76.61 billion, a PE ratio of 31.25, a PEG ratio of 1.32 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the firm earned $6.23 earnings per share. Research analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.